Phillips 66 (NYSE:PSX) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its holdings in Phillips 66 (NYSE:PSX) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,500,230 shares of the oil and gas company’s stock after selling 228,168 shares during the quarter. Vanguard Group Inc. owned about 9.81% of Phillips 66 worth $4,614,191,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Bogart Wealth LLC increased its position in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new position in Phillips 66 in the 4th quarter valued at $25,000. Stephens Consulting LLC raised its holdings in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Human Investing LLC acquired a new stake in Phillips 66 in the fourth quarter valued at about $30,000. Finally, Webster Bank N. A. boosted its holdings in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSX. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Barclays increased their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $147.54.

Phillips 66 Price Performance

PSX stock opened at $126.56 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock’s 50 day moving average price is $124.32 and its 200 day moving average price is $125.58. The firm has a market cap of $51.60 billion, a P/E ratio of 25.62, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the business posted $3.09 EPS. On average, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio is presently 93.12%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.